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Daily Life of a Financial Analyst?

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Old Aug 4, 2004 | 11:15 AM
  #11  
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It looks to me like you want to work in the industry commonly termed "investment banking," i.e. Morgan Stanley, Goldman Sachs, CSFB, Lazard, etc. Are you looking to relocate to NYC or San Fran? Those are the most active areas for that type of work. If in fact you are looking to get into a large i-bank, or even boutique bank specializing in M&A work, your best bet is campus recruiting.

Indiana is a good state school with a great MBA program, so I'd be surprised if at least one of the larger banks didn't recruit there. These recruiting efforts are the key to getting into an i-bank (or consulting firm, or large CPG company). You want to go into an event well prepared. Wear a nice suit, pressed shirt, and properly tied tie. Appearance is important. Have a professional resume on hand (actually, multiple copies). List any internship experience you have in a relevant field. Being a finance major with a high GPA is certainly the first step too. Just that alone should get you a "call back," as the initial screening process is typically a "who's got the highest GPA" type situation.

READ THE WALL STREET JOURNAL. You want to be up to date on the latest deal work going on on the street, if M&A is your area of interest. Know what pharma is looking to buy what biotech, know what big-time CPG is merging with a media conglomerate, etc. It's important to know what the hell you're talking about. Get the lingo down, it makes people comfortable when you speak the same language.

Be ready to bust your ass. Typical work weeks are between 80-100 hours on the street. You'll probably be someone's bitch for 2 years, but it'll be worth it if you want to go back for an MBA. . . or just be really wealthy in a short period of time.

I've gotten most of this info. from friends in the industry, the Vault, and general research. I, for a time, was interested in i-banking, but went the consulting route instead. Good luck on whatever you decide, and definitely do your research.
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Old Aug 6, 2004 | 07:37 AM
  #12  
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bkw
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read this..
http://www.vault.com/nr/newsmain.jsp?nr_pa...cle_id=15556476

i see junior analysts and associates literally killing themselves everyday. i work at a top rated global investment bank in nyc, and it's quite sad whenever we hear the reasons behind someone leaving. their stories usually start with some sort of stress disorder, or the guy/gal just disappears. to see someone red-eyed and exhausted at 2am on a sunday morning would normally mean that the person has been drinking and partying all night, but when you see them at work and it happens to be the dude in the next cube, you start reassessing your life.

But with great sacrifice, there
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Old Aug 6, 2004 | 08:53 AM
  #13  
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That's exactly what I was talking about. Most of my friends in IB have busted their butts for the past 2-5 years. I suppose the payoff comes in heaps, though. One made VP at his firm (youngest ever) without an MBA. Two more have since moved to Private Equity and a Hedge Fund, respectively. The first is now moving to London to work in his firm's office there. All expenses paid, including an Associate's salary and sponsored MBA upon his return in a few years. Ridiculous. However, these are the same guys who rarely hang out because they're too busy working, getting ready for a meeting in some far off land, or basically burned out. Finally, they also made 4 or 5 times as much money as most of our other friends, so that's something to take into account.

So, the the finance business is a great one to be in, but know the ups and downs before you start. I had no idea what it meant to "travel for work" until I started consulting. I'm sitting in my office today after rolling off of a project. . . and this is the first full week I've spent at my desk in about 2 years. That also means I haven't spent a full week in my apartment in 2 years. No joke. The point is, do your research.

Good luck with whatever you decide.
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